FTX Hacker Converts 25,000 ETH to BTC, On-chain Data Reveals

Vignesh Karunanidhi
FTX Hacker Converts 25,000 ETH to BTC, On-chain Data Reveals
Source: Bitcoinist

Strangely enough, the FTX hacker who stole millions from the defunct exchange is now one of the largest Ethereum holders globally.

On Monday, the hacker exchanged 400 billion Shiba Inu tokens worth $3.9 million for 2,346 Ethereum, gaining 2,346 ETH. On Tuesday, the hacker exchanged 37,570 ETH for $48.2 million worth of DAI stablecoins. The fraudster also converted a variety of other tokens, including $41 million in BNB, into ETH.

According to reports, the hacker has taken digital assets worth $477 million total from the struggling FTX exchange. In a new series of events, the FTX hacker has now converted 25,000 ETH to BTC.

FTX hacker dumps ETH

As per on-chain data, the hacker moved 25,000 ETH to an unknown wallet and converted it to 1,753 BTC. The transaction happened at 11:35:54 UTC. However, the hacker has additionally swapped 50,000 ETH for 3,517 renBTC.

Details from PeckShieldAlert reveal that the hacker currently holds 200,735 ETH worth $235.5 million. After dumping the ETH, the hacker drops to the 37th ranking in terms of Ethereum holdings from the 27th position.

The identity of the FTX hacker still remains a mystery. However, many suspect that it is Sam Bankman-Fried himself. The series of dumps has created fear as the price of ETH drops. ETH is currently trading at $1,170.63, with a 3% loss in value in the last 24 hours.